The BRICS conference tomorrow is meeting because of the need to form a new world order for our currencies. The $ (now digital) has been the Reserve Currency since the end of WW II. This situation has favored America and allowed America to purchase goods/services from the entire planet with no real (immediate) consequences. The BRICS desire to change this situation going forward!
America can run a TRADE DEFICIT into 'infinity' as long as the world allows this corrupt situation to continue (allowing America to use their Reserve Currency status to buy goods/services from the entire planet with no real consequence). America's trade deficit allows American consumers to purchase goods and services from the entire planet as if they OWN the planet. This situation is now ENDING with the BRICS nations (now meeting in South Africa) for a three day conference (August 22 - 24).
Will this meeting produce meaningful CHANGE for a NEW WORLD ORDER for our currencies and for trade among nations? My sense is YES. A new world order is a forming as of this week. The $ is the key issue as America can SANCTION anyone on the planet and not suffer any real CONSEQUENCES. This is unjust and it will END with this conference of the BRICS (IMO). Next week we should get the results of this meeting. Some 71 nations have been invited to attend this important conference.
My sense is that the de-dollarization concept will be up front for this meeting. Nations will agree to trade without the use of the $ as the core (reference) currency. The Yuan, Rupee, Reel, Ruble, and other local currencies will be used for trade settlement between these nations. At some point a NEW BRICS currency will be introduced. This is axiomatic as their MUST be some reference point for all these trading (digital) currencies. The only real reference point is GOLD. AU is the historical reference point for ALL national currencies.
Will the U.S. sit back and allow all this change to happen without any push back? I don't think so! The U.S. will recognize that their RESERVE currency status is waning and disappearing (over time). This will create the need for push back (probably in the form of a HOT war with select nations...say Russia/China). My sense is that America will push back as the $ is key to America's survival as KING of this planet. Our EMPIRE was created by this RESERVE currency called the American $. All this is now ENDING!
The BRICS will likely START a process of de-throning the American digital $ and this is my prediction for this conference which meets tomorrow and after. The reality is that we really do not NEED any Reserve Currency for this planet. Gold can act as the reference point for ALL currencies. The history of GOLD reveals this role for this precious metal (also silver will play a new role going forward). America's FREE trade role is coming to an END. As of today, America is running a $1 trillion annual trade deficit. Shameful!
www.usdebtclock.org
America has created continual trade deficits and national deficits since the END of WW II. At this moment our DEBT situation is ominous. We have some $33 trillion of National debt and $102 trillion of total debt. This situation was allowed because of America's role as the core RESERVE currency for the planet. My sense is that this historical favorite situation is now ENDING for America. Starting tomorrow we could witness the beginning of the END of this Reserve Currency situation for America.
Will the $ be punished on the International Forex Markets? This may or may not happen tomorrow or immediately in 2023. America has many friends and our dominance in the military front may allow us to continue with a favorite role for the $ for a few more months. The END may take some months to occur. But my sense is that this END could start tomorrow and later this year (2023). America is using their favorite role to SANCTION many nations. The only solution is to END our Reserve Currency Status (for America).
Watch the events as they happen tomorrow and later. It may be next week before I know what transpired in South Africa with the BRICS. I will keep you informed in a future missive. Have a great day! I am: donaldswenson.blogspot.com.
http://kingdomecon.wordpress.com
No comments:
Post a Comment